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Cuyahoga Falls treasurer warns of mid‑range shortfall; board approves five‑year forecast
Summary
Miss Stokley, the district’s treasurer/CFO, presented the district’s five‑year forecast and the board adopted it Wednesday; the forecast is balanced through 2028 but projects a possible deficit in 2029 under current assumptions.
Miss Stokley, the district’s treasurer/CFO, presented the Cuyahoga Falls Board of Education with the district’s required five‑year financial forecast on Wednesday and the board voted to adopt that forecast.
The forecast, which the treasurer said is conservative and uses current assumptions about state funding and local tax collections, shows positive balances through fiscal 2028 but a projected shortfall in fiscal 2029. “Based on this forecast, a revenue increase of 13% is needed to balance the budget or almost a $4,500,000 reduction in expenditures,” Miss Stokley told the board.
Why it matters: The five‑year forecast is a statutory planning document that informs the board about long‑term fiscal health, whether contracts can be certified, and when ballot measures may be required. The forecast and the timing of decisions it implies affect staff…
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